Ferry continued to record, and in 1985 the album Boys and Girls reached the number one position in Britain.

Ferry performed at the London Live Aid, again accompanied by David Gilmour.He was hit with technical difficulties on sound, the drummer's drumstick broke at the start of the first song "Sensation" and Gilmour's Fender Stratocaster went dead, so he had to switch to his candy-apple red Stratocaster for the rest of the performance. The difficulties in sound were overcome for "Slave to Love" (featured on the soundtrack to 9 Weeks) and "Jealous Guy." As with other successful Live Aid acts, his current album, Boys and Girls, remained in the chart for over a year.

After the Avalon promotion tours, Ferry was rather reluctant to return to life on the road; however, a change of management persuaded him to try touring again in 1988 to promote the previous year's B Noire release. Following the tour, Ferry teamed up again with Brian Eno for Mamouna (collaborating with Robin Trower on guitar and as producer). The album took more than five years to produce, and was created under the working title Horoscope; during production, Ferry released another covers album, Taxi in 1993, which proved to be a greater commercial and critical success than Mamouna would be when it was finally released in 1994. In 1996 Ferry performed the song Dance With Life for the Phenomenon soundtrack, which was written by Bernie Taupin and Martin Page. In 1999 Ferry appeared with Alan Partridge (played by Steve Coogan) on BBC's Comic Relief.

After taking some time off from his music, Ferry returned in 1999. He began to perform a mix of 1930s songs and songs of his own, including several from the Roxy collection, and recorded them on the album As Time Goes By, which was nominated for a Grammy award.